It is my understanding that for every dollar ANR writes off in debt as unsecured bondholders etc they lose one dollar of NOL`s. So if they cheat bondholders out of $2 billion in unsecured debt they lose $2 billion in NOL`s. Also, shareholders have to keep 50 percent of the new company or the NOL`s go out the window. This is not chapter 7 but chapter 11 which means you reorganize debt .
Since I believe management misleaded shareholders and investors back in May and with the NG asset buy where we were told it would make shareholder value I believe management and the BOD should be careful how they walk this BK down the road or it could be picked up by the SEC and become a shareholder fraud lawsuit by the Feds where even secure bond holders will lose in the end.